21 February 2020

Govt to eliminate outdated capacity one year early, Xinhua says

The government is stepping up a crackdown on outdated capacity, aiming to complete the process by the end of the year, the official Xinhua news agency reported Monday, citing Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology. The ministry will give priority to certain major industries such as steel, electrolytic aluminium, cement and sheet glass manufacturing to eliminate all outdated capacity one year early, the report said. Industries under the reform program are prohibited from adding new capacity.

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